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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9061)	2/17/1998 9:12:00 PM
From: Arnie	of 15196

FIELD ACTIVITIES / Range Petroleum announces Joint Venture with Amoco VANCOUVER, Feb. 17 /CNW/ - Range Petroleum Corporation VSE: RAN Western Alberta --------------- Range Petroleum Corporation announces that it joins with Amoco Canada Petroleum Company Ltd. in conducting a 3-D seismic program covering 236 square kilometres (91 square miles) in Alberta. The seismic program will evaluate several promising Devonian leads as well as other prospective horizons. Range and its 50% partner will pay 60% of the cost of the seismic program estimated to total $3.2 million to participate 50-50 with Amoco in the prospect area. In addition to acquiring an interest in 9,600 acres of existing leases from Amoco, Range will benefit from significant 3-D seismic programs previously conducted by Amoco in the area. The seismic program is situated near currently producing prolific oil and gas fields with existing processing and marketing infrastructures in place. This seismic program is currently underway. Completion of the field acquisition portion is scheduled for late March 1998 with interpretation to be completed by May/June, 1998. Progress, Alberta ----------------- Range has contracted Precision Drilling Rig No. 372-D for the drilling of test well ''Range-Talon-Progress 11-29-78-9 W6M.'' Anticipated spud date is on or about February 25, 1998. For further details please see news release dated November 25, 1997. Private Placement ----------------- The Company announces a private placement consisting of 116,000 units priced at $1.60 per unit. Each unit comprises one common share and one common share purchase warrant. Each warrant is exercisable at $1.60 per share for a one-year period. Private placees are Range employees.

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